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Priceline Group Inc (PCLN) Stock Pops on Q4 Earnings Beat

PCLN beat EPS estimates by $1.20


Priceline Group Inc (NASDAQ:PCLN) stock was up on Tuesday on positive results in its earnings report for the fourth quarter of 2016.

Priceline Group Inc, PCLNPriceline Group Inc reported earnings per share of $14.21 for the fourth quarter of the year. This is better than its earnings per share of $10.73 reported during the same time last year. PCLN’s earnings per share for the quarter also came in well above Wall Street’s estimate of $13.01.

During the fourth quarter of 2016, Priceline Group Inc reported revenue of $2.35 billion. The company reported revenue of $2.00 billion in the fourth quarter of 2015. Analysts were expecting PCLN to report revenue of $$2.32 billion for the fourth quarter of the year.

Operating income reported by Priceline Group Inc in the fourth quarter of the year was $790.36 million. Operating income from the same time last year was $657.90 million. Net income for the quarter was $673.91 million. The travel company’s net income from the same period of the year prior was $504.27 million.

Priceline Group Inc also released its guidance for the first quarter of 2017 in its most recent earnings report. The company is expecting earnings per share to range from $8.25 to $8.65 for the quarter. Wall Street is estimating earnings per share of $10.62 for this period.

Priceline Group Inc is also expecting growth in its first quarter of 2017 when compared to the same time last year. It expects room nights booked to be up between 20% to 25%. It is also looking for total gross travel booking to increase by 17% to 22% for the quarter.

PCLN stock was up 5% as of noon Tuesday and is up 18% year-to-date.

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